[Pre-market analysis of U.S. stocks] Corporate earnings and policy trends dominate market sentiment (2025.08.06)
Market sentiment rose slightly before the market. Investors were concerned about corporate earnings. Companies such as Disney and AMD performed less than expected. Trump's policies increased geopolitical risks and needed to pay close attention to economic data.
Market expectations rose slightly, and corporate financial reports became the focus.
On August 6, Taiwan time, the U.S. stock futures index showed a slight increase in market opening sentiment, with investors focusing on the financial reports of many companies. Dow Jones Industrial Average futures rose 0.4%, while S & P 500 and Nasdaq futures rose 0.2%. Bitcoin rose slightly to $114,000, the yield on the 10-year U.S. Treasury note rose slightly, and crude oil futures rose nearly 2%, while gold futures fell.
Disney's revenue missed expectations and announced a major transaction.
Walt Disney Co. Shares fell nearly 2% in pre-market trading. The company reported fiscal third-quarter revenue of $23.69 billion, which fell short of Visible Alpha's consensus forecast, but adjusted earnings per share reached $1.61, above expectations. Disney announced that its ESPN division will acquire league media assets such as the NFL Network and will launch a direct-to-consumer sports service on August 21. In addition, Disney has also reached an exclusive agreement with WWE to become the exclusive live broadcast platform for wrestling promotion activities in the United States.
AMD's profits fell short of investor expectations.
Advanced Micro Devices (AMD) shares fell 6% before the market. Although its second-quarter revenue rose 32% year-on-year to $7.67 billion, exceeding analysts 'expectations, earnings per share of $0.48 were only in line with market forecasts. AMD said it has been affected by approximately US$800 million due to U.S. export controls on its MI308 chips and is preparing to resume wafer deliveries to China after obtaining approval from U.S. regulators.
Ultramicro computer reported poor and outlook weak.
Shares of Super Micro Computer plunged 17% in pre-market trading after the company reported quarterly results that fell short of expectations and issued weak forecasts. Microcomputer reported adjusted earnings per share of $0.41, and revenue increased 7.5% year-on-year to $5.76 billion, but fell short of Visible Alpha's analyst expectations. The company forecast adjusted earnings per share for the quarter of $0.40 to $0.52, which is below market expectations of $0.60.
Snap's earnings fell short of expectations and its share price fell sharply.
Snap shares plunged 18% before the market, as the social media company's second-quarter results missed analyst expectations. Snapchat's operators reported adjusted EBITDA of $41.3 million, lower than Visible Alpha's forecast of $47 million, and revenue increased 9% year-on-year to $1.34 billion, slightly below the market consensus.
Trump's policies remain unchanged and geopolitical risks will increase.
U.S. President Trump said in an interview that he would announce a new tariff plan on chips next week and impose a "small tariff" on drug imports, which could increase to 250% within a year and a half. In addition, Trump has not eased his criticism of the RSC and revealed possible chairman candidates. Markets reacted mixed, with major stock indexes falling back on weak services data.
Overall, although some corporate financial reports exceeded expectations, the market responded cautiously, especially in the context of Trump policy uncertainty and increased geopolitical risks. Investors need to continue to pay attention to the impact of economic data and policy trends on the market.
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